Not putting high hopes on the interest rate cuts made by the State Bank of Vietnam (SBV) recently, the market is still waiting for a bailout to cover all business fields. Soon after the US FED cut the prime interest rate, SBV also took a similar move. Bao Viet Securities (BVSC) commented that the interest rates SBV has cut mostly support the liquidity of the banking system and reduce short-term interest rates in the interbank market. The connection between these short-term interest rates with real lending interest rates is limited. According to Bui Quang Tin, a respected finance and banking expert, adjusting the interest rates is suitable to the current inflation rate, exchange rate and other macroeconomic factors, but the interest rate cuts will have an impact in the medium and long term. Kim Chi Banks lower interest rates following SBV’s policy rate cut By March 17 noon, most of the commercial banks in Vietnam had lowered their interest rates on savings accounts with terms of less than 6 months after the State Bank of Vietnam (SBV) announced its policy rate cut a day earlier. Central bank cuts interest rates to buffer COVID-19 impact The State Bank of Vietnam (SBV)… Read full this story
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